David Springer - Mar 1, 2023 Form 4 Insider Report for FTC Solar, Inc. (FTCI)

Role
Director, 10%+ Owner
Signature
/s/ Jacob D. Wolf, as Attorney-in-Fact
Stock symbol
FTCI
Transactions as of
Mar 1, 2023
Transactions value $
$36,411
Form type
4
Date filed
3/3/2023, 03:31 PM
Previous filing
Oct 19, 2022
Next filing
Jun 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTCI Common Stock Award $36.4K +12.7K +0.21% $2.86 6.05M Mar 1, 2023 Direct F1, F2
holding FTCI Common Stock 336K Mar 1, 2023 By Trust F3
holding FTCI Common Stock 336K Mar 1, 2023 By Trust F4
holding FTCI Common Stock 336K Mar 1, 2023 By Trust F5
holding FTCI Common Stock 1.29M Mar 1, 2023 By Trust F2, F6
holding FTCI Common Stock 1.2M Mar 1, 2023 By Trust F7
holding FTCI Common Stock 330K Mar 1, 2023 By Trust F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects a grant of restricted stock units, which vested in full upon grant, pursuant to the Issuer's 2021 Stock Incentive Plan made to the Reporting Person in lieu of the annual cash compensation otherwise payable to the Reporting Person for his service on the board of directors of the Issuer. The number of restricted stock units was determined by dividing the amount of such annual cash compensation by the thirty (30) day volume weighted average price (VWAP) of the Issuer's common stock as of the date of grant.
F2 Reflects shares transferred between the Reporting Person and the DS 2021 GRAT, which was exempt from reporting pursuant to Rule 16a-13 under the Securities Exchange Act of 1934, as amended.
F3 These shares are owned directly by the ZS 2021 Trust for the benefit of the Reporting Person's child. The Reporting Person has sole power to acquire for himself any asset held in the trust, including the shares, by substituting other property of equivalent value of the ZS 2021 Trust. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.
F4 These shares are owned directly by the NS 2021 Trust for the benefit of the Reporting Person's child. The Reporting Person has sole power to acquire for himself any asset held in the trust, including the shares, by substituting other property of equivalent value of the NS 2021 Trust. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.
F5 These shares are owned directly by the AS 2021 Trust for the benefit of the Reporting Person's child. The Reporting Person has sole power to acquire for himself any asset held in the trust, including the shares, by substituting other property of equivalent value of the AS 2021 Trust. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.
F6 These shares are owned directly by the DS 2021 GRAT for the benefit of the Reporting Person. The Reporting Person (a) is the sole trustee, (b) has sole voting and dispositive power with respect to the shares held by the trust and (c) has sole power to acquire for himself any asset held in the trust, including the shares, by substituting other property of equivalent value of the DS 2021 GRAT. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.
F7 These shares are owned directly by the DS 2022 GRAT for the benefit of the Reporting Person. The Reporting Person (a) is the sole trustee, (b) has sole voting and dispositive power with respect to the shares held by the trust and (c) has sole power to acquire for himself any asset held in the trust, including the shares, by substituting other property of equivalent value of the DS 2022 GRAT. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose
F8 These shares are owned directly by the KC 2021 Trust for the benefit of the Reporting Person's fiancee. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.